Full- employment equilibrium occurs
A) when potential GDP exceeds real GDP.
B) when real GDP exceeds potential GDP.
C) when real GDP equals potential GDP.
D) as a result of an increase in long- run aggregate supply.
Correct Answer:
Verified
Q7: In the macroeconomic long run,
A) real GDP
Q45: In short- run macroeconomic equilibrium,
A)real GDP is
Q46: There are several reasons why the aggregate
Q47: Suppose the Australian exchange rate falls from
Q48: Business cycles are the result of
A)regular shifts
Q49: Economic growth is BEST defined as
A)rightward shifts
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